Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1887-01-12

Concerning copper the circular says: AT.
tor many years of downward tendency cop
per has at length quite clearly turned the
corner and started N an upward tack. It
is also q pleasure to record the fact that
this is due entirely to legitimate causes.
The stocks in this country now on hand
are only IL. 200, 900 pounds against a.
OOO, 900 last year. and the total produc
ton OF the United States has been "a, 700
gross tons against $4,000 gross tons in
1885. On tho other hand the consump-
ton OF the country has increased from
~, 900 gross tons to 51,43O gross tons,
while our export reached nearly 46. OOO,-
600 pounds. 1t would be difficult to make
a more satisfactory change in the situation
than these figures show in comparison with
those OF 1885. where production was man.
ifested so great as to overwhelm our alb
sorbing capacity, and to render a further
decline in the price inevitable. During the
first half Of the year, the price OF Lake
drifted along from liz cents down to II
cents, and there was a nip-and-tuck bal
ance between production and consumption,
but toward the end Of July the Calumet &
Hecla mine owners, with evident blood in
their eye" deliberately dropped the price
to 10 cents, nominally giving it out that
they needed the money for a dividend, but
in reality meaning to drop the price with a
few million pounds at a time to such a
point as would force the contraction OF the
output. The operation seemed to be rather
heroic treatment, but proved after all to be
s%minently wise, for With one accord many
OF the smaller Arizona and Montana mines
shut down either entirely or partially, and
at last the giant Anaconda, producing
nearly one-sixth of the total United States
production, stopped working and thereby
the turn of the tide. The large
manufacturers instantly displayed
a willingness to purchase more freely and
took up in a pool purchase at IL
cents, New York. 100000 pounds
Tor October and November delivery.
Then during December the price lowered
around liz cents and IL cents, and at the
close OF the year the Lake companies we're
obtaining IL cents, plus the extra railroad
from the mine, which practically I
Equals 12A cents, SO that the fiuctuation OF
price in New York for Lake has ranged from
10 to 12h cents. and the great lesson. OF the
fear has been that the rock bottom cost
price OF producing copper in this country is !
very far fuom 1Ocents for many mines. ,
The various brands inferior to Lake and
lsed for casting and other purposes have I
anged from half a cent to two cents below !
hat price OF Lake, that margin becoming
ess as the price grew chea per and more as :
t appreciated. Our careful calculation of !
he various total figures show the Lake c
ompanies to have increased about 6,OOO,-
'Oo pounds. while the Montana product s
ell off 20, 600, 900 pounds and the Arizona =
100000 pounds. 1t seems more !;
han probable that mine holders will profit e
y their past experience and during 1887 n
ill seek to restrict their production and I
obtain full values, rather than press
be production to it's utmost and thus lose
profits. 1t will not be surprising to see
n increase OF domestic production to TO- I
tons in 1887, but against that the
apid growth OF our vast territory will
oubtless swell consumption to 100, OOO,- n
90 pounds. +,
The average price OF Lake copper for the 81
ear was lilo; average price OF Chill bars, D
40, 7s5d. Ia,